Monitor for any future conversion of this 13G to a 13D, which would signal activist intent. Also watch for additional share accumulation by Meruelo, as his 7.5% stake gives him significant influence without triggering a tender offer threshold.
Price Chart
Executive Summary
Alex Meruelo and his living trust filed a Schedule 13G disclosing a 7.5% passive stake in FuelCell Energy as of October 13, 2026. The filing confirms no intent to influence control, but the stake is notable for its size and the investor's profile. This is a new filing by this investor, not an amendment of a prior 13G.
Key Financial Metrics
Key Facts
- Alex Meruelo and the Alex Meruelo Living Trust filed a Schedule 13G on October 15, 2026, disclosing beneficial ownership of 6,001,029 shares (7.5% of outstanding common stock).
- The stake consists of 5,960,529 shares held directly by the Trust and 40,500 shares held by Liset Meruelo (spouse).
- The percentage is based on 79,954,196 shares outstanding as of August 27, 2026, per the issuer's 10-Q.
- The filing is made under Rule 13d-1(c) (passive investor), certifying no intent to change or influence control.
- This is a new 13G filing by this investor; a prior 13G by Alex Meruelo was filed on July 13, 2026.
Financial Impact
7.5% passive stake valued at approximately $2.5 million based on recent trading levels (no explicit dollar value in filing).
Risk Factors
- Passive 13G could be converted to activist 13D if Meruelo changes intent, potentially leading to board changes or strategic shifts.
- Large insider stake creates overhang risk if Meruelo decides to sell, though no selling is indicated.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G Filing (Primary) | 0001493152-26-047266 |
| Document: 0001493152-26-047266-index-headers.html | 0001493152-26-047266 |
| Document: 0001493152-26-047266-index.html | 0001493152-26-047266 |
| Document: 0001493152-26-047266.txt | 0001493152-26-047266 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | SC 13G | $13.00 | awaiting T+20 | — | $11.46 (−11.85%) |
Oct 7, 2026 19d ago | 8-K | $18.37 | awaiting T+20 | — | $11.46 (−37.60%) |
Oct 6, 2026 20d ago | 144 | $20.65 | awaiting T+20 | — | $11.46 (−44.50%) |
Sep 15, 2026 5w ago | Insider Buy | $15.50 $14.16 | ▼ −8.65% | ▼ −10.71% | $11.46 (−26.06%) |
Sep 2, 2026 7w ago | 8-K | $14.40 $16.42 | ▲ +14.03% | ▲ +14.11% | $11.46 (−20.42%) |
Sep 2, 2026 7w ago | Press Release | $14.40 $16.42 | ▼ −14.03% | ▼ −14.11% | $11.46 (+20.42%) |
Jul 20, 2026 14w ago | Insider Buy | $19.84 $22.36 | ▲ +12.70% | ▲ +8.58% | $11.46 (−42.24%) |
Jul 9, 2026 15w ago | 8-K | $23.00 $20.32 | ▲ +11.65% | ▲ +13.89% | $11.46 (+50.17%) |
Jul 9, 2026 15w ago | Press Release | $23.00 $20.32 | ▼ −11.65% | ▼ −13.89% | $11.46 (−50.17%) |
Jun 8, 2026 20w ago | Press Release | $15.50 $29.73 | ▼ −91.81% | ▼ −90.17% | $11.46 (+26.06%) |
US Market Status
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